11-30-2020, 07:55 PM
(This post was last modified: 12-21-2021, 07:43 PM by Admin Steve.)
I am proud to announce the completion of Flex EA for MT5! It only took 300+ hours to convert it over the past few months 
but with it comes some big improvements 
This update is free for all users that have the x2 package, Correlated Hedge package or upgrade, or Diamond package from years ago. You will see it now available in your members area!
If you only have the basic $330 x1 MT4 package, you will need to upgrade for the price difference of $165 in your members area to access this MT5 version and you will gain a 2nd license in the process.
The biggest difference you will see is visually with the on chart display
![[Image: attachment.php?aid=2216]](https://forexflexea.com/forum/attachment.php?aid=2216)
Status: Whether Flex is setup correctly and ready to trade. If this is red and not green, it will indicate the error of why Flex is not ready to trade like the EndingTradeDay is triggered, AutoTrading is turned off, automated trading is not allowed, stopout recently happened and trading is temp paused etc..
TP: This will automatically change based on your TP parameters, but generally most set files are using EquityTrail, and when its triggered you will see the first 0.00% value change to the SL, and middle green 0.00% will be the current profit, and the last value will be the TP high. Basically works the same way as MT4 does but visually different and adapts to other TP that might interfere with the EquityTrail. Like if you set the Floating TP PCT below the EquityTrail, it will see that and show your TP as the Floating TP PCT instead of the EquityTrail.
Trade Filters/Indicators: This is the biggest change visually and one of the things that took the most time to complete. Any indicator that you turn on, will appear here. Anything that is green means its ready to trade. You will see the UseRSi has a green Sell, which means based on your UseRSi settings, the price is in an over bought area and is ready to sell. However Flex still won't trade because the PinPatterns is also on but both buy and sell are grey which means its not ready. Once the PinPatterns Sell turns green, and assuming everything else is still green then it would trade, but only if there is no major news recently or incoming (if you have the news filter on). This will also be true for VirtualTrading where it will show the accuracy numbers you are used to, but this particular strategy does not use VirtualTrading as you can see. I do plan on implementing this on MT4 over the coming weeks!
News Filter: I had to completely develop a news filter from scratch for MT5, but it ended up being a very good thing. Not only does it no longer require an indicator file as I have it built into Flex EA MT5, but it can also be backtested! It pulls the calendar straight from MT5, and saves it to a csv for each currency pair. But the only way to get it to do this is to attach Flex to a live chart, and set the StartingDate (at the very bottom of Flex settings) to at least a month before where you want to start backtesting from. It will then download all the news for that currency pair from that starting date to csv, and then when you go to backtest it will look for the .csv and read all the news from it while backtesting. Note: if you are not backtesting, you do not need to edit the StartingDate, it will automatically pull news from the current time accordingly.
There is also countless performance upgrades that were implemented and or inherently gained, and with the far superior backtesting capabilities of MT5 being multi-threaded with news filter, expect some exciting new set files coming your way for 2021
All MT4 .set files are compatible with MT5, and there is one new unique MT5 set file included.
but with it comes some big improvements This update is free for all users that have the x2 package, Correlated Hedge package or upgrade, or Diamond package from years ago. You will see it now available in your members area!
If you only have the basic $330 x1 MT4 package, you will need to upgrade for the price difference of $165 in your members area to access this MT5 version and you will gain a 2nd license in the process.
The biggest difference you will see is visually with the on chart display
Status: Whether Flex is setup correctly and ready to trade. If this is red and not green, it will indicate the error of why Flex is not ready to trade like the EndingTradeDay is triggered, AutoTrading is turned off, automated trading is not allowed, stopout recently happened and trading is temp paused etc..
TP: This will automatically change based on your TP parameters, but generally most set files are using EquityTrail, and when its triggered you will see the first 0.00% value change to the SL, and middle green 0.00% will be the current profit, and the last value will be the TP high. Basically works the same way as MT4 does but visually different and adapts to other TP that might interfere with the EquityTrail. Like if you set the Floating TP PCT below the EquityTrail, it will see that and show your TP as the Floating TP PCT instead of the EquityTrail.
Trade Filters/Indicators: This is the biggest change visually and one of the things that took the most time to complete. Any indicator that you turn on, will appear here. Anything that is green means its ready to trade. You will see the UseRSi has a green Sell, which means based on your UseRSi settings, the price is in an over bought area and is ready to sell. However Flex still won't trade because the PinPatterns is also on but both buy and sell are grey which means its not ready. Once the PinPatterns Sell turns green, and assuming everything else is still green then it would trade, but only if there is no major news recently or incoming (if you have the news filter on). This will also be true for VirtualTrading where it will show the accuracy numbers you are used to, but this particular strategy does not use VirtualTrading as you can see. I do plan on implementing this on MT4 over the coming weeks!
News Filter: I had to completely develop a news filter from scratch for MT5, but it ended up being a very good thing. Not only does it no longer require an indicator file as I have it built into Flex EA MT5, but it can also be backtested! It pulls the calendar straight from MT5, and saves it to a csv for each currency pair. But the only way to get it to do this is to attach Flex to a live chart, and set the StartingDate (at the very bottom of Flex settings) to at least a month before where you want to start backtesting from. It will then download all the news for that currency pair from that starting date to csv, and then when you go to backtest it will look for the .csv and read all the news from it while backtesting. Note: if you are not backtesting, you do not need to edit the StartingDate, it will automatically pull news from the current time accordingly.
There is also countless performance upgrades that were implemented and or inherently gained, and with the far superior backtesting capabilities of MT5 being multi-threaded with news filter, expect some exciting new set files coming your way for 2021
All MT4 .set files are compatible with MT5, and there is one new unique MT5 set file included.
